TKO vs Bitcoin | Short But Fast B-Wave (94% Pot.)Good morning my dear friends, let's review another altcoin that is already moving, there are multiple bullish signals already confirmed.
The pair in question is TKOBTC.
We are looking at the BTC pairings because Bitcoin is bearish right now and these pairs can easily grow while Bitcoin moves lower.
After the descending channel in orange, we have a small reversal pattern. This pattern leads to a low 16/17 Aug. The low is quickly followed by a bullish breakout.
After the initial breakout there is always a retrace. If the breakout is big, the retrace is big. If the breakout is small, the retrace is also small. Here we have a small retrace and yesterday this retrace ends in a higher low. Today we have a bullish continuation. The bullish action today confirms the higher low yesterday.
Since this is happening after the reversal pattern and major low, all these signals combined can indicate that additional growth is possible.
If we were to look at the classic oscillators, MACD and RSI, we would find some divergences, bullish and likely long-term, as well as a strong RSI while prices are trading low. I haven't checked but this is likely how they are looking and this would confirm the price action and candlestick signals we just saw.
Namaste.
